London Holiday Home for Middle Eastern National
15th November 2021
Key Facts:
- Client: Middle Estern National
- Property type: Holiday home in London
- Property value: £5,600,000
- Loan amount: £3,920,000
- LTV: 70%
- Rate: 1.69%
Here at Enness, we regularly work with foreign property investors, expats and other individuals who want to buy UK real estate despite being outside the UK.
One of the most frequent enquiries we get is regarding the availability of UK mortgages for Middle Eastern nationals. Often, non-UK residents mistakenly believe they can’t get UK property finance because they have approached a high street bank and been rejected. However, this is absolutely not the case. It’s certainly true that mainstream high street lenders are less likely to offer UK mortgage loan to non-resident clients, but these lenders are not the only port of call when it comes to applying for a mortgage. Some lenders can accommodate you, notably international banks, which are used to dealing with international clients with global assets.
In this case, our client was looking to purchase a holiday home in London worth £5.6 million and had the requirement of a 70% LTV (loan-to-value) mortgage. Utilising our network of 500 lenders, we were able to meet the client's requirements at a competitive rate.
We have come across most scenarios you can think of and created bespoke finance deals of varying complexity. We know there is a time and a place for taking the traditional route, just as there is a time and a place for a bespoke offering. If you are looking to purchase prime property in London, get in touch today!
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